MURRAY HILL, N.J.-Lucent Technologies Inc. reported revenues of $9.9 billion for its first fiscal quarter ended Dec. 31, vs. $9.84 billion a year ago. The company also reported net income for the quarter, excluding one-time events, was $1.18 billion, or 36 cents per share, down from net income of $1.52 billion or 48 cents per share, for the same quarter a year ago.
The results were expected, though Lucent did note that the quarter was still the second-largest in the company’s history in terms of both revenue and net income. Within the United States, revenues for Lucent’s Service Provider Networks segment increased by 7 percent, while revenues outside the United States decreased 16 percent and were 35 percent of the segment’s revenues.
“As we’ve said, we’re disappointed with our results for the quarter,” said Richard McGinn, chairman and chief executive officer of Lucent. “However, industry growth is strong, and we are well-positioned to take advantage of that growth. The fundamental needs of our customers continue to grow and we intend to capitalize on this demand as we’ve done in the past.”
McGinn reiterated that the company expects manufacturing capacity and deployment issues to be resolved by the end of the second fiscal quarter.
